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leader harry reid says the u.s. is probably going over the fiscal cliff. he's planning a news conference. we don't have the exact time. when it goes, we'll go there. investors getting quite nervous. obviously the dow dropping below 13,000. the first time since early december. fear index is spiking the vick. what going over the cliff will mean for you and your money. we will talk about it this hour. >>> airline stocks flying high sitting at 1 1/2 year highs. will it be smooth skies for the industry next year in 2013. phil lebeau has the report. >>> how about housing? what a story housing has been this year. a milestone. home prices on track for their first year-over-year gain since 2006. is the worst finally over? some say yes, others say no. what does michelle caruso-cabrera say. >> tyler, let's drill down to the numbers you were talking about. only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 3
ultimately about increasing the number of flights into heathrow. >> it's really about the access to the uk/u.s. marketplace. it's by far by 200% the largest market between europe and the u.s. and delta has had an 8% market share, fifth place. with this transaction we get to second place with a quarter of the market. >> that's a huge increase for delta. what about for virgin atlantic and richard branson, the ceo. well, the brand remains. remember, there's been some speculation that delta would take over virgin atlantic. not going to happen. ceo richard branson will be staying in charge. he was part of the announcement today here in new york city by satellite coming from down in the dominican. as we look at shares of delta, take a look at this. stock up, a nice gain today, almost 7%. tyler, in the end, what we're going to see is more of these types of deals in the industry, as you see the domestic u.s. carriers tried to increase their exposure to some of these lucrative markets. >> you answered my question. virgin gets to remain a virgin after it jumps into bed with delta. >> i'm in the touching
with manufacturing that have left the u.s. not necessarily people but the education stops producing them. >> that's sad. how do we get that back? sbl well, it is a concerted effort to get them back. with this project that i've talked about where we will do a mac in the united states next year? i think this is a really good another step for us. the consumer electronics world was really never here. so it is not a matter of bringing it back, it is a matter of starting it here. >> good morning. thanks for joining us here. >> reporter: while steve jobs liked to avoid the spotlight, he also thrived on it. it was as if he was selling products that were pieces of his own soul. he was inventor, pitchman and new wave pid piper all in one. big boss coming through. big boss, people. look alive. >> reporter: tim cook is just a different guy. while he believes in the almighty product just as much. >> how are you not steve jobs? >> in many ways. one of the things he did for me that removed a gigantic burden that would have normally existed is he told me on a couple of occasions before he passed away to never qu
bit. economic news and new data shows u.s. manufacturing falling to its lowest level in three years. and there is a little nervousness about the president taking to twitter at 2:00 p.m. eastern time to talk about the fiscal cliff negotiations that are going on. but it is the first trading day of the month and some on wall street are getting bullish for year end. it is going to be a december to remember, i predict it. >> i think this is one of the reasons we're holding up so well, because december is the best month of the year and we roll into january which is also a very good month. let me show you some sectors that do especially well in the month of december. there's major sectors here. this is the best performing sectors in the month of december, averaged over the last ten years. you can see it is a diverse group -- health care, telecom, utilities. a lots of people play dividend at the end of the year. energy and materials a little bit deceptive. for example, energy has only been up a few of the last decembers. it's had a couple of real terrific decembers. i want to note there's o
but not as good as what it did in the u.s. that's one reason. >> very quickly, on apple map debacle, how damaging was that? that was a slip, a big slip for them. >> yes, i think it was. a little bit after turning point for the company because its leadership in software for wireless was unquestioned. for the first time, users were saying, you screwed this up. >> you messed this up. >> yes. that sent a signal, they changed leadership. >> they had a reputation for doing everything right. this was an instance for where they did not. thank you. >> good to have you here. >> brian shablgtman. >> hard to talk about apple without talking about google. there are reports over the weekend this they are settling their search issue with the ftc. also interesting can comments about how they really believe that search with google will be more mobile than desktop on the year 2016. it is up $14.49. sue, to you. >> brian, thank you very much. we raise the question, is there a middle ground to be reached regarding gun control? we'll discuss that very subject with ron christie, former policy adviser to president bush
accounting concerns. you buy multi-national u.s. global companies with better accounting control. >> michael, thank you very much. >>> gold prices are on the down side for this week. it's been kind of a brutal week for the precious metals. final floor trades in metals being made right now. live coverage of the close is coming up on "power." >> announcer: cnbc program is sponsored by mercedes benz. ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense.
underutilized, revisit its branch strategy in metro areas including those in the u.s. this is a broad overhaul of strategy. we have some 350 of those layoffs, too, taking place in citi's so-called bad bank citi holdings. the cfo said the bank will move swiftly to sell those assets but they still face two problems -- valuation of businesses and financing for these buyers that are interested. the financing caused them to remain directly exposed to a lot of the bat businesses like mortgages. they're trying to get out of them as quickly as possible but we expect they'll face further write-down wlz they do that. that's a big strategy for this year as well. >> kayla, thank you. >>> let's talk more about this with editor in chief at american banker. the new ceo is taking a broad brush approach to this. he's moved quickly and guys on the floor who trade this stock are giving him some high marks because he's making some decisive moves. are they the right moves? >> i think they are. citi has gone in this direction already but i think they're trying to show they're speeding things up here. on the scale o
is able to tell us at that news conference in 8 minutes time. the u.s. is now on the edge of the fiscal cliff. hours to go until the deadline and as we get closer in theory, the pentagon is getting ready to layoff quite literally thousands of employees because of the automatic spending cuts that go into effect if no deal is reached in d.c. at midnight. we have more on that fall out, hunter? >> how you doing simon? ? yes, just to flush out a little bit of what ber that was talking about, is delaying the spending cuts, down to the wire of the fiscal cliff negotiations. it is an absolute must across the potomac river at the pentagon. there would be a $55 million in spending, about 10% cut in many programs while a lot could be delayed, the most immediate contingency is notifying an estimated 800,000 civilian employees about furloughs in the new year. south carolina senator lindsay graham after he was contacted by secretary of defense leon panetta. >> he says if we do that, it will shoot the defense department in the head and we will have to send out 800,000 layoff notices at the beginning o
sectors. equities is kind of a global shorg an board, if you will. but they like the u.s. best. and in currencies, blackrock is all about being a dollar bull. so where specifically are they putting all that money to work in light of fiscal cliff? take a listen to what bla blackrock's robert casid 0 to me. he manages the firm's $3.7 trillion in assets. >> does this mean we good over the fiscal cliff. >> it is a very high likelihood it does or 11:59 on december 31st with a lot of hoopla. but tax rate are going to go up. there is a going to be a conclusion to this. even if it waits until the last minute. even if it is in january, what it is going to mean is slow growth. it may mean that we lose the entire first quarter because everybody is still worrying and talking about the issue. and here we go, clients again, investing in a time when they need to be invested. >> he also thinks if we go over the cliff it might trig ear recession. what about the fed? as you know, it announced those big moves today. tying any move in rates to the unemployment rate. are we in a bond double? we wil
in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >>> president obama naming vice president biden 20 head a task force for real efforts to reduce gun violence and do it by the end of january. the pr
third choice. u.s. first, europe second. and i think there is more beyond with the government having an emerging plan. this is just taking a long period of time and i think that will continue on to next year. >> a very interesting guy, robert kapito. you just heard him say that his choices in order were u.s., then emerging markets, then europe. if you were to follow that advice and put money into the u.s. market, give me a couple of names would you look for for 2013. >> first of all, you want to buy names that cater to all of us that have less money. let's talk about one of those names. mcdonald's and costco. mcdonald'scaters to a letter budget crowd. obviously they have a huge emerging market expansion as well. and they seem to be capturing market share from starbucks. they've enrolled in juices and try to capture market share from jamba juice. >> a horrible luxury. not a luxury. but affordable food. >> correct. now let's go to affordable food. costco, you go to the back and there's the milk. but you have to go through the middle section. the middle section is what people buy, the h
results ever in america. the ceo of the u.s. division will join us exclusively to talk about how he plans to keep those sales motoring along and whether he is hiring. >>> speaking of hiring, with millions still out of work, why are manufacturers having a tough time filling new positions? phil lebeau searching for answers? wheeling, illinois. >> tyler, the answers will surprise you. at this plant, the ceo says i would hire ten people immediately if i could. guess how many applicants he has for some of the jobs right now? zero. we'll explain why when "power lunch" returns. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. >>> jobs are front and center today despite an unemployment rate hovering near 8%
are at stake here. the u.s. economy is at stake here. millions upon millions of families are counting on us to do something. look, it's the president's job. it is his job to find a solution that can pass the congress. he is the only one who can do it. this isn't john boehner's problem to solve. he has done his part. he's bent over backwards. mr. president, how about rallying your party around a solution? how about getting democrats to support something? i've said it many types before, we simply cannot solve the problems we face unless and until the president of the united states either finds the will or develops the ability to leave. this is a moment that calls for presidential leadership. that the way out of this. ity it's that simple. does anyone wonder why we keep going from crisis to crisis around here? anybody notice a pattern? this doesn't have to be a crisis. this was an opportunity. but once again, the president ignored it. he went out and held rallies, gave partisan speeches, even after he had been re-elected. as i said yesterday, i think it is obvious at this point the president w
four star hybrid fund. mixing in corporate foreign and u.s. treasury bonds and stocks with relatively high dividends. one-year return just over 12%. ed, good to have you here on "power lunch." >> good to be with us. >> i'm reading through notes. you told our producer, when it comes to managing the portfolio, how on earth do you manage ton pay attention to it wh some say it could be debt tricksal to gdp. >> we look at it as to how it can affect the companies we are investing in. but in terms of listening to press conferences on a daily basis and how that will impack the market today, that's something we are less concerned about. >> because? we are focused on long-term objectives in our investors. that is speaking about prospects for investors. >> so in other words, this too shall pass. >> i think so. we are at a point where it is a bit of -- a point where we are tired of hearing the same thing out of leaders in washington. i think it is time that this is dealt with and we move past it. and hopefully we will get to that point soon. >> talk about the bond bubble. now that they have made
a factory in ohio, last u.s. manufacturing company, some pensions put pressure on them and were able to change their mind. >> can the institutional investors big ones, nif them out there, can they put political pressure on congress to move this along or not. >> they can. they don't have a huge amount of money to do such things. i'll put it this way. compared to the amount of money private industry can put, there's no contest. >> dan from "fortune" magazine. thank you very much. sue, thank you. >> next half hour, ty, i'll look at the impact of the sandy hook tragedy had on gun retailers, then we'll talk with a leading mental health expert on whether mental health is being lost in the debate. back in 2:00. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lip
of weathered the storm. there is a lot of investment poe tens that could ignite growth in the u.s. economy. and that's where i think they have kept their powder dry, full and uniquely positioned. >> they are uniquely positioned to use that capital if there's some resolution and tyler, these the key. you know, i have talked to small business manufacturers here in the midwest and almost all of them say the same thing, they are fed up with the uncertainty. if they had some certainty about what was going to happen with the fiscal cliff, tax policy, you name it i think we would then, as everybody would say, get a bounce because these manufacturers would then put that capital to use. >> phil lebeau. thank you very much. >>> we are talking uncertainty, despite all of it, down in washington, there are companies hiring right now and intend to next year. joining us is eric sherrin berg, the editor and chief of "inc" magazine. naming name notice december and january issue you the 100 biggest job creators in america. these are the 100 big pest and who are they? >> companies that are fast growing, i wo
one in the u.s. mercedes leads by about 1800 vehicles. bmw has no payments for up to five months. those are the kinds of things we used to see from domestic auto makers six wsh seven years ago. bmw sales up 45% last month. mercedes knows bmw is coming on strong. they last led in sales in 1999. that's why they are latching deals bmw had out there. they need strong sales offsetting weakness in europe. what kind of sales are we looking at? greater than $4,000. increases you sigh at the bottom of the screen there, that's compared to last month. so expect november's deals to be even richer in december. finally, taking a look at bmw, mer say t mercedes, no comparison here. bmp pulled away with nice gains. 18% gain, tyler. if you play these guys off each other within, you will get a very rich deal. >> i may have to get out there and start looking. chrysler rehiring union workers it fired after very public embarrassing incident. why the turn around? >> a local television statement had videotape of these workers on a break looking like they were smoking pot, drinking. this is a very publi
of procedures. >> reporter: for insurors, 2013 will bring more m & a to diversified business as u.s. profit margins are squeezed by regulation and competition. united health's $5 billion acquisition of brazil's biggest health provider will likely push others to hunt for more international growth. >> medical device makers face a 2.3% excise tax starting in 2013 under obama care. it's been a head wind for stocks like boston scientific and striker. any kind of reprieve on that rate is going to be a positive for the sector. >> reporter: the biggest story of the year will be the buildout of the state health exchanges. the federal government has to build 32 of them for states opting out, along with a complex central data hub to manage eligibility and subsidy payments. it will be little short of a miracle to get the online insurance marketplaces up and running smoothly by october 1st, when millions of uninsured americans are supposed to start signing up for obama care coverage. >> so what rule will have the biggest impact on the health care industry and who will be most affected? joining us now, m
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